The earnings call highlighted significant growth in EBITDA and order intake, strong backlog visibility, and promising project developments in Norway and Brazil. However, these positives were balanced by flat revenue growth, a decrease in cash reserves, concerns over the Saipem merger, and challenges in the offshore wind sector.
Company Guidance -
Q3 2025
During Subsea 7's Q2 2025 results conference call, guidance was reiterated, emphasizing strong financial performance and future prospects. The company reported a second-quarter adjusted EBITDA of $360 million, representing a 23% year-on-year growth with a margin exceeding 20%. Revenue for the quarter was $1.8 billion, marking a 1% increase from the previous year. The order intake for the quarter stood at $2.5 billion, resulting in a book-to-bill ratio of 1.4x for the quarter and 1x for the half-year. Subsea 7's backlog for the remainder of 2025 is valued at $3.6 billion, providing over 90% revenue visibility for the full year. The company maintained its 2025 revenue guidance between $6.8 billion and $7.2 billion, with an adjusted EBITDA margin expected between 18% and 20%.
Strong EBITDA Growth
Subsea 7 delivered Q2 adjusted EBITDA of $360 million, representing a 23% growth year-over-year with a margin of over 20%.
High Order Intake
Order intake was $2.5 billion, resulting in a book-to-bill of 1.4x for the quarter and 1x for the half year.
Backlog Visibility
Subsea 7 has a combined backlog of $3.6 billion for execution in the remainder of 2025, giving over 90% visibility on full year revenue.
Norway Projects
Subsea 7 is involved in significant projects in Norway, including Ormen Lange Phase 3, Yggdrasil, and Northern Lights, illustrating their capability in maximizing reserves and decarbonizing industries.
Brazil Market Expansion
Tendering activities remain high in Brazil with new projects like Mero wave 2 and Búzios wave 2 being added.
Subsea 7 (SUBCY) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SUBCY Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Jul 31, 2025
$19.31
$19.42
+0.57%
Apr 30, 2025
$14.42
$14.33
-0.62%
Feb 27, 2025
$15.28
$15.23
-0.33%
Nov 21, 2024
$15.91
$15.90
-0.06%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Subsea 7 SA (SUBCY) report earnings?
Subsea 7 SA (SUBCY) is schdueled to report earning on Nov 20, 2025, Before Open (Confirmed).
What is Subsea 7 SA (SUBCY) earnings time?
Subsea 7 SA (SUBCY) earnings time is at Nov 20, 2025, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.